INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Microchip Technology Incorporated
NEW YORK--(BUSINESS WIRE)--Sep 17, 2018--The law firm of Kirby McInerney LLP announces that it has filed a class action lawsuit in the United States District Court for the District of Arizona on behalf of all persons or entities who purchased or otherwise acquired Microchip Technology Inc. (“Microchip” or the “Company”) (NASDAQ: MCHP) securities between May 31, 2018 and August 9, 2018 (the “Class Period”). Investors have until November 16, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that on May 29, 2018, Microchip announced the completion of its acquisition of Microsemi Corporation (“Microsemi”) and promised investors hundreds of millions of dollars in synergies from the combination of Microchip and Microsemi. However, just months later, on August 9, 2018, Microchip disclosed that the Company was “adversely impacted by $226.9 million of Microsemi purchase accounting, restructuring and other charges.” On this news, shares of Microchip declined sharply in value, falling $10.67 per share, or over 10% to close on August 10, 2018 at $87.41 per share.
If you purchased or otherwise acquired Microchip securities during the Class Period, have information, or would like to learn more about this lawsuit or about claims that you may have, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at firstname.lastname@example.org or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180917005859/en/
CONTACT: Kirby McInerney LLP
Thomas W. Elrod, Esq., 212-371-6600
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Kirby McInerney LLP
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PUB: 09/17/2018 11:00 PM/DISC: 09/17/2018 11:00 PM